After today's action it seem to confirm we are in a stealth bull flag on the S&P. One of the reason I have been not so readily to jump on the short side is I believe we will see higher prices but also we are above the 200EMA, which leave me on the side of being long. Now we were looking like a lower high formation could be formed but from this stealth bull flag arising I am feeling like we wont get to test the lower boundaries of the last pullback.
The market is very fluid with all the international news etc so it is prudent to play small if you do.
Wednesday, March 23, 2011
1255
Ok after doing some work it looks like that's where the market wants to test. At that level I will be a buyers 1/3 size as I expect it to ramp up to new highs into the time projections I have spoken about before- I will more than likely pic on the oil services like XOM and tech like Apple when we get to those level.
We will see soon enough better to take it slow here as we are barely moving.
We will see soon enough better to take it slow here as we are barely moving.
Monday, March 21, 2011
Friday, March 18, 2011
No trade day
Today is a no trade day for me as it is quadruple witching.
Market looking higher but we could form a lower high which would set up a trade able short at those resistance levels.
Market looking higher but we could form a lower high which would set up a trade able short at those resistance levels.
Thursday, March 17, 2011
Overnight
So it is 11:40 PM and the futures are much higher. Someone asked me today why do you think we will go higher if I am such long term bear? Well for one, any time we are trading above the 200EMA I have a long bias, while if we are below I have a short bias. So presently we are above the 200EMA so I am not bearish till be break that line in the sand, that's how I analyze stuff in the medium term.
Secondly I still have some higher time projections coming in April and June so I have to respect those projections, so till be are below that 200EMA and past those time projections I have to believe we are in buy the dips mode.
We will see soon enough.
Secondly I still have some higher time projections coming in April and June so I have to respect those projections, so till be are below that 200EMA and past those time projections I have to believe we are in buy the dips mode.
We will see soon enough.
Wednesday, March 16, 2011
THUNDERBOLT
Thunderbolt the first 4G phone on Verizon arrives tomorrow but pre orders on Wirefly is reported to be 400% higher than the previous record holder. I am dying for a smartphone I might have to check it out, seem it might be a winner.
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